Head of Private Markets Compliance Advisory
Business Area: Group General Counsel
Place of Work: London
Contract Type: Permanent
Hours: Full Time
The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
To be the pension service of choice for the higher education sector for the long-term
- To act as the “first port of call” in the Compliance team in respect of the activities of the Private Markets Group (PMG)
- To support the Head of Compliance with a range of compliance advisory and framework tasks, managing delivery and implementation as directed.
- To represent the Compliance Team as a senior resource across business and stakeholder meetings as required.
- To manage and support the monitoring activities of the Compliance team.
- Provide specialist regulatory compliance advice to the PMG investment management function.
- Monitor the activities of PMG and produce management information reports regarding PMG.
- Attend key business and investment committee meetings in relation to PMG, keeping up-to-date with deal pipeline and business developments.
- Facilitate error and breach resolution for PMG.
- Work closely with other members of the Compliance Team, including with regulatory queries, compliance training, project work, and input into general compliance matters in addition to those of PMG as the need arises.
- Have input into the development of the compliance risk assessment and compliance monitoring programme, including identifying new and emerging risks from business and regulatory developments and assessing their impact on the compliance monitoring programme.
- Lead regulatory reviews, including Thematic Reviews, managing input from other members of the Compliance Team, and write up findings, presenting final report and recommendations to senior management, following up on actions with the business as required.
- Take a lead role in supporting the Head of USSIM Compliance in relation to the implementation of the Compliance Plan, regulatory and business change projects.
- Follow up investigations and breach assessments as a result of regular and ad hoc monitoring reviews or business/regulator generated enquiries in PMG.
- Develop and lead training sessions, including working alongside external partners such as law firms.
- Updating and drafting policies, procedures and compliance manual, as directed by the Head of USSIM Compliance.
- Assist in internal and external audit queries, taking lead role on requests relating to PMG.
- Development of monitoring processes, including working with the Compliance Team to develop IT solutions as needed (e.g. automating compliance requests).
- Monitor industry developments and best practice, including maintaining relationships with trade associations and apply and roll these out as relevant at the direction of the Head of USSIM Compliance.
- Assist in the writing and preparation of risk committee report, and board papers. Present to the USSIM Board and / or Committees as directed by the Head of USSIM Compliance.
- Engage with Operational Due Diligence Team on visits and reviews of external managers and key suppliers.
- A good understanding of alternative asset classes; including property, derivatives and alternative investments.
- Demonstrable experience of Private Markets Compliance.
- Thorough knowledge of UK regulatory framework, including key regimes such as MiFID II, MAR and SM&CR.
- Sound knowledge of financial crime impact to private markets investment management.
- Experience of identifying and managing conflicts of interest.
- Familiarity with regulatory change agenda and in particular any impact on private markets.
- Ability to develop and maintain strong relationships at all levels, whilst providing effective challenge.
- Ability and willingness to deliver pragmatic and proportionate compliance advice, monitoring and training solutions within PMG.
- Bachelor Degree or equivalent; relevant professional qualification (Accounting/Legal) or industry qualification (such as CISI).
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.